LONDON, Oct. 24, 2019 /PRNewswire/ -- Verisk
(NASDAQ: VRSK), a leading data analytics provider, today
announced that leading UK insurer LV= General Insurance has
renewed its use of the Xactimate® claims estimation tool
and the real-time claims management solution
XactAnalysis® to support its property claims for a
further three years.
As part of this ongoing strategic relationship, Verisk and LV=
GI have closely collaborated on several major projects to develop
and deliver highly effective capabilities, including a
purpose-built Building Contractor Network to enable LV= GI to
manage its growing network of suppliers.
Under the Building Contractor Network initiative, Verisk
provides LV= GI with advanced supply chain management and
performance monitoring for a nationwide network of building
suppliers, including a customised Schedule of Rates to ensure
policyholders receive the highest level of service. Verisk played
an integral role in onboarding specialist suppliers into the
Building Contractor Network, providing training and support to
establish supplier best practices. The Building Contractor Network
delivers estimation and settlement transparency, configurable
supplier management, and performance monitoring, which ultimately
helps shorten claim life cycles.
"The capabilities delivered by our partnership with Verisk have
been praised by employees, suppliers, and policyholders alike, so
expanding this further was a natural decision," says Martin Milliner, claims director of LV= GI. "The
Verisk team has consistently demonstrated a first-class level of
service, tailoring deployments to solve our business pain points,
engaging with both our own team and external suppliers, and
providing extensive training and highly responsive support."
LV= GI is a long-standing Verisk customer, having used Verisk
solutions since 2011. Verisk's cloud-based Xactimate scoping tool
provides intuitive estimation across multiple platforms and fully
integrates into XactAnalysis, a single source for claims tracking,
supplier management, and assessment.
"LV= GI's renewed commitment is a testament to the excellence of
the working relationship the Verisk client services team shares
with LV= GI and the capabilities of our claims portfolio," says
Joe Pendle, managing director of
Verisk Claims EU. "We look forward to further developing our
strategic partnership and working closely together to add further
value to LV= GI claims operations."
About LV= General Insurance
Liverpool Victoria General Insurance Group Limited (LVGIG) is an
LV= branded strategic partnership between LV= and Allianz Holdings
Plc, following the sale of a 49% stake in LV='s General Insurance
business on 28th December 2017,
creating the UK's third largest personal insurer with over £1.7
billion annual premium income and serving over 6 million
customers.
About Verisk
Verisk (NASDAQ: VRSK) is a leading data analytics provider
serving customers in insurance, energy and specialised markets, and
financial services. Using advanced technologies to collect and
analyse billions of records, Verisk draws on unique data assets and
deep domain expertise to provide first-to-market innovations that
are integrated into customer workflows. Verisk offers predictive
analytics and decision support solutions to customers in rating,
underwriting, claims, catastrophe and weather risk, global risk
analytics, natural resources intelligence, economic forecasting,
and many other fields. Around the world, Verisk helps customers
protect people, property, and financial assets.
Headquartered in Jersey City,
N.J., Verisk operates in 30 countries and is a member of
Standard & Poor's S&P 500® Index. In
2018, Forbes magazine named Verisk to its World's
Best Employers list. For more information, please
visit www.verisk.com.